By Angela McDaniels
Tacoma, Wash., July 1 – Morgan Stanley Finance LLC priced $876,000 of contingent income autocallable securities due June 30, 2022 linked to the least performing of the common stocks of Walt Disney Co., Intel Corp. and Goldman Sachs Group, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at the rate of 11.25% per year if each stock closes at or above its downside threshold, 60% of its initial share price, on the determination date for that month.
The notes will be called at par plus the contingent coupon if each stock closes at or above its initial share price on any quarterly determination date.
The payout at maturity will be par unless any stock finishes below its downside threshold, in which case investors will be exposed to the decline of the least-performing stock from its initial share price.
The notes are guaranteed by Morgan Stanley.
Morgan Stanley & Co. LLC is the agent.
| Issuer: | Morgan Stanley Finance LLC
|
| Guarantor: | Morgan Stanley
|
| Issue: | Contingent income autocallable securities
|
| Underlying stocks: | Walt Disney Co. (DIS), Intel Corp. (INTC) and Goldman Sachs Group, Inc. (GS)
|
| Amount: | $876,000
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| Maturity: | June 30, 2022
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| Coupon: | 11.25% per year, payable monthly if each stock closes at or above downside threshold on determination date for that month
|
| Price: | Par
|
| Payout at maturity: | Par unless any stock finishes below downside threshold, in which case exposure to decline of least-performing stock from initial share price
|
| Call: | Automatically at par if each stock closes at or above initial share price on any quarterly determination date
|
| Initial share prices: | $139.94 for Disney, $46.85 for Intel and $196.06 for Goldman Sachs
|
| Downside thresholds: | $83.964 for Disney, $28.11 for Intel and $117.63 for Goldman Sachs, or 60% of initial share prices
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| Pricing date: | June 25
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| Settlement date: | June 28
|
| Agent: | Morgan Stanley & Co. LLC
|
| Fees: | 3.35%
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| Cusip: | 61769HGV1
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